GRAND RAPIDS, Mich., Feb. 7, 2025 /PRNewswire/ -- Northpointe Bancshares, Inc. ("Northpointe"), a Michigan corporation and the bank holding company for Northpointe Bank, a wholly-owned subsidiary and a Michigan non-member bank, announced today the launch of its initial public offering of 8,823,532 shares of its voting common stock ("common stock"), including 7,352,942 shares of common stock offered by Northpointe and 1,470,590 shares of common stock offered by certain shareholders of Northpointe (the "selling shareholders"). The underwriters will have a 30-day option to purchase up to 1,323,529 additional shares of common stock from the selling shareholders at the initial public offering price, less underwriting discounts and commissions. Northpointe will not receive any proceeds from the sale of shares by the selling shareholders. The initial public offering price is estimated to be between $16.00 and $18.00 per share. Northpointe has applied to list its common stock on the New York Stock Exchange under the ticker symbol "NPB".
Northpointe intends to use the net proceeds from this offering for general corporate purposes, which may include growing its existing lines of business or using a portion to redeem all, or a portion, of its preferred stock.
Keefe, Bruyette & Woods, Inc., A Stifel Company, is acting as sole book-running manager for the proposed initial public offering, with Piper Sandler and Janney Montgomery Scott LLC acting as co-managers.
The proposed offering is being made only by means of a prospectus. Copies of the preliminary prospectus, when available, may be obtained from: Keefe, Bruyette & Woods, Inc., A Stifel Company, (800) 966-1559, or email: [email protected]; Piper Sandler & Co., 800-747-3924, or email: [email protected]; and Janney Montgomery Scott LLC, email: [email protected].
A registration statement related to these securities has been filed with the U.S. Securities and Exchange Commission but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Northpointe Bank
Northpointe Bank, headquartered in Grand Rapids, Michigan, is a client-focused company that provides home loans and retail banking products to communities across the nation. Our mission is to be the best bank in America by bringing value and innovation to the people we serve. To learn more about Northpointe Bank visit www.northpointe.com.
Contact
For Immediate Release
Contact: Kevin Comps
616-974-8491 | [email protected]
SOURCE Northpointe Bancshares, Inc.
